11/16/2023 Death Cross: The Harbinger?
Russell E. Towne | November 16, 2023
AUTHOR: russell.towne@townewealthmanagement.net/BLOG 11/16/2023: Towne Wealth Management BLOG:
Death Cross
The “Death Cross” signal just poked its head up this Monday ,November 13,2023, reports Business Insider, 11/14/2023. This came just before a 489 point upward move on the DOW, coming out of an underestimated 3.2% CPI. Pundits were seeing this as an indicator of no near-term rate hikes.
The Harbinger: Definition
The “Death Cross,” by definition, is a formation involving a short-term moving average falling below a longer-term one. The last time the death cross showed its head was in March 2022. The Dow then dropped…12% over the next six-month period.
But then:
There is the end of rate increases, falling inflation and high retail sales… This all adds up to this….
Be appropriately allocated going into 2024
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The opinions expressed in this material do not necessarily reflect the views of LPL Financial and based on the political content of this material are for general information only and are not intended to provide specific advice or recommendations for any individual. The economic forecasts set forth in this material may not develop as predicted. All indices are unmanaged and may not be invested into directly.
Russell E. Towne, LPL Financial Advisor, is a registered representative with and Securities and Advisory Services offered through LPL Financial, a Registered Investment Advisor. Member FINRA/SIPC.
The opinions expressed in this material do not necessarily reflect the views of LPL.